I feel like I must be missing some key components in my analysis of the property. 

Since I like wood working, and have made several cabinet boxes for other rentals that needed repair to match existing cabinets, I can always cut new sides & bottoms if/when the presswood starts to deteriorate, and reuse the frames & doors. 

The main highway is on the other side which they have already cut access to.Any advice/suggestions/etc would be much appreciated!

(California has strict tenant laws and we will not consider a booking without one).Currently there is only street parking for the unit, which we have theorized may be a filter cutting us out of many potential bookings.

Real Estate News in BriefA string of favorable data (lower inflation, higher unemployment rate) has convinced the market that the Federal Reserve will begin cutting short-term interest rates in September, and mortgage rates are already moving lower.Reminder!

Ill cut against the grain here.

I don't think its necessarily cut in stone, especially since they aren't conforming loans so its basically unregulated. 

Some are glorified fee takers and any cash flow or equity return on the property is icing on the cake.I like it more when the fee is just a small component of the deal and the syndicator wins more when their passive investors do on the back end.

Basically, he is able to avoid all the bank requirements and cut out the middle-man syndication. 

In particular, in desirable areas, for permanent/good financing, often 25% down doesn't cut it.